Gambling is the risking of something of value (including money, property, or personal relationships) upon an event whose outcome is largely determined by chance. It is a common activity that has been a part of most societies since prerecorded history and has been incorporated into many customs, rites, and social gatherings.
The most common way that people gamble is by placing a bet, i.e. putting money on a team to win a football match or purchasing a scratchcard. The amount of money placed is matched to ‘odds’, which are a number, i.e. 5/1 or 2/1, that determines how much the bettor can win if they have success.
Most adults and adolescents engage in some form of gambling without problems, but a small subset develops a gambling disorder that significantly interferes with their life. According to the American Psychiatric Association’s Diagnostic and Statistical Manual of Mental Disorders-Fifth Edition, there are 10 warning signs of compulsive gambling that include:
Many people start to gamble for coping reasons – it’s an easy way to relieve boredom or loneliness, to think about what they could do with a large sum of money, or as a way to socialise with friends. However, if someone has developed a gambling addiction it can damage their health, strain or break relationships and cause financial loss. Overcoming a gambling addiction is a difficult process and there are a range of treatments available to help someone stop.